These Billionaires Owe Their Riches to Warren Buffett, Here is How You Can Replicate Their Success
There’s certainly nothing better than seeing your individual success benefit not only yourself, but others as well. Such is the story of Warren Buffett, firmly in the top five of the world’s richest, thanks to his $79.7 billion net worth.
As Business Insider reports, a few others have joined the billionaires’ club, thanks to Buffett’s Berkshire Hathaway.
Among them are those who invested in the company early, while others were smart enough to ask for payment in form of stock when they sold their enterprises to the budding entrepreneur.
They’ve now been rewarded beyond their wildest dreams, with fortunes sizeable enough to take care of at least two family generations.
Wealthiest of Them All
Although we can’t really say that Bill Gates achieved billionaire status thanks to Berkshire Hathaway, we must recognize that he is the wealthiest of the conglomerate’s investors, richer than the CEO Warren Buffett himself. He personally owns shares in the company, in addition to those his fund (Bill & Melinda Gates Foundation) owns.
Running a small family business back in the day, Stewart Horejsi could only dream of better days. Thankfully, he was an ardent reader, a trait that Buffett credits for most of his investment decisions.
Having just read 1980’s The Money Masters, a book by John Train and one that ranked the CEO among the smartest investors of all time, Horejsi decided to buy Berkshire Hathaway shares, forking out $265 for each. Currently, the man is worth $1.5 billion; talk of an investment paying off!
Charlie Munger has been Warren Buffett’s vice chair for the longest time ever, and is considered by many to be the CEO and chairman’s right-hand man.
The two first crossed paths in 1959, and Munger was already doing well for himself before that. However, joining Berkshire Hathaway is what catapulted him to greater financial heights, and he’s currently worth $1.6 billion.
David Gottesman was among the earliest investor’s in Buffett’s company, doing so via First Manhattan, the investment firm he founded in 1964.
His ripe old age of 93 hasn’t stopped him from being actively involved in running his business, and he also sits as a member of the Berkshire Hathaway board. Worth $2.1 billion, Gottesman has never had any regrets concerning this particular investment.
Have you ever heard of Albert Ueltschi? If not, the man was a pilot who founded the FlightSafety International company to train future pilots. Buffett expressed interest in buying it back in 1996, to which the man agreed, but only if he received payment in stock options.
The negotiations led to an agreement of stock worth $1.5 billion, which had already appreciated to $2.5 billion by the time Ueltschi died in 2012. His family inherited it all, and you can be sure that the stock is now worth considerably more in 2019.
If you knew anything about cars back in the day, then you know that by 1997 Larry Van Tuyl and his family ran one of the biggest dealerships in the States.
They sold the majority of it to Berkshire Hathaway in 2015, with Van Tuyl still running things. He is currently worth $1.5 billion, with the rest of his family’s combined net worth coming in at $2.5 billion. It always pays to do business with Warren Buffett, doesn’t it?
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